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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by FOXBUSINESS.COM:

Twitter CEO Parag Agrawal said he still expects Elon Musk’s $44 billion acquisition to close in 2022 despite the Tesla chief executive’s recent tweet that the deal is temporarily on hold.

The article goes on to state the following:

The deal, which would take the social media giant private at $54.20 per share, is on hold, pending details supporting calculations that spam and fake accounts represent less than 5% of Twitter’s users.

In the first quarter of 2022, Twitter’s monetizable daily active user base grew 15.9% year-over-year to 229 million, including 39.6 million daily active users in the U.S. and 189.4 million international daily active users.


In a series of Twitter posts Friday afternoon, Agrawal wrote:

A lot has happened over the past several weeks. I’ve been focused on the company and haven’t said much publicly during this time, but I will now.

We announced changes to our leadership team and operations yesterday. Changes impacting people are always hard. And some have been asking why a “lame-duck” CEO would make these changes if we’re getting acquired anyway. The short answer is very simple:

While I expect the deal to close, we need to be prepared for all scenarios and always do what’s right for Twitter. I’m accountable for leading and operating Twitter, and our job is to build a stronger Twitter every day.

No one at Twitter is working just to keep the lights on. We take pride in our work. Regardless of the company’s future ownership, we’re here improving Twitter as a product and business for customers, partners, shareholders, and all of you.

People have also asked: why manage costs now vs after close? Our industry is in a very challenging macro environment – right now. I won’t use the deal as an excuse to avoid making important decisions for the health of the company, nor will any leader at Twitter.

So what can you expect from me going forward? I’m still focused on doing the job, and that includes making hard decisions as needed. I will continue to embrace the deep complexities of our service and our business. And you can expect more change for the better.

I will also try to bring more transparency to the work that we do. You won’t see tweets from me on the ‘topic of the day’ or the loudest sound bite, but rather on the ongoing, continuous, and challenging work our teams are doing to improve the public conversation on Twitter.

Finally – so much gratitude for our whole Twitter team. They have stood strong and focused, sharp and agile. They’ve been doing the work, as they always have. Onward.

Because I mentioned the deal in this thread, he’re the obligatory legalese for your reading pleasure https://investor.twitterinc.com/financial-information/Additional-Information-and-Where-To-Find-It/default.aspx

Musk posted the following statement Friday morning: “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users. Still committed to acquisition.”

To get more information about this article, please visit FOXBUSINESS.COM.

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2 COMMENTS

  1. I don’t know if y’all remember the take over of IBP years ago. This deal almost didn’t go through also. Guess which COURT it finally forced it to be approved? Delaware. FACT CHECK ME

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